Commonwealth Numbered Acts Commonwealth Numbered Acts(1) The AUSTRAC CEO may, in writing, authorise specified officials, or a specified class of officials, of a specified designated agency to have access to AUSTRAC information for the purposes of performing the agency's functions and exercising the agency's powers.
Note: For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901 .
(2) An authorisation under subsection (1) is not a legislative instrument.
Limitations on AUSTRAC' s power to authorise access by State or Territory agencies
(3) Despite subsection (1), the AUSTRAC CEO may specify a designated agency mentioned in any of paragraphs (p) to (x) of the definition of designated agency in section 5 only if the designated agency undertakes that it and its officials will comply with the Information Privacy Principles set out in section 14 of the Privacy Act 1988 in respect of AUSTRAC information obtained under:
(a) the authorisation; or
(b) subsection 128(2).
AUSTRAC information, or class of AUSTRAC information, to which access is authorised
(4) An authorisation under subsection (1) must state the AUSTRAC information, or the class of AUSTRAC information, to which the officials of the designated agency are to have access.
(5) This Subdivision does not apply to a function or power of the Treasury Department unless the function or power relates to the Foreign Acquisitions and Takeovers Act 1975 or regulations under that Act.
(6) This Subdivision does not apply in relation to the duties of an official of the Treasury Department unless those duties relate to the Foreign Acquisitions and Takeovers Act 1975 or regulations under that Act.